If the CRML price holds up well at say minimum US$600 million or A$900 million, then I don't see why someone wouldn't swoop on EUR with a takeover bid at say A$500 - 600 million+ and make a huge sum in the process and allowing some wiggle room for the risks.
Now that the deal is done and once it lists on NASDAQ, most of the risk has gone.
I'm sure there was a huge amount of risk of the deal not going ahead baked into the current SP. That risk is now gone so surely we see a massive re-rating from here on in.
Sizzle Approves Merger, page-32
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